Essential startup advice for the young entrepreneur

Young entrepreneurs have a great edge when it comes to drive and optimism, yet the experience necessary to make a success of that glimmering small business idea is still sitting out there in the future, so what’s a budding business person to do?

The staff at YFS Magazine has six tips for young entrepreneurs gleaned from the US Small Business Administration’s website, an excellent resource to point you in the right direction until experience comes along to lend a hand.

1. Have a plan

Creating a business plan can seem like an overwhelming task. But these days it isn’t necessary to create a customary 100-page business plan in order to launch a new business. The key is to view your business plan as an organic document that will evolve over time.

The main areas to cover in your business plan are to: define your goals, develop an understanding of your target market, and create effective marketing strategies that can be refined as you grow.

2. Get assistance

One of the smartest things any new entrepreneur can do is to ask for help when they need it. Thankfully there are bountiful online resources available to small business owners.

For example, SCORE is a nonprofit organization dedicated to supporting entrepreneurs through education. As a resource partner of SBA, SCORE has been mentoring young entrepreneurs for more than forty years…